Serasa report shows rising motorcycle insurance renewals in Brazil

A Serasa Insurance Map study reveals a significant shift in the Brazilian insurance market, with a notable increase in policy renewals for motorcycles. Over the last 12 months, motorcycle insurance renewals rose from 18% to 37% of total quotes, while new contracts decreased from 82% to 63%.

Automobile insurance shows a more balanced trend, with renewals increasing from 47% to 53% and new contracts dropping from 53% to 47%. The overall share of motorcycle quotes in the market grew by three percentage points over the year, reaching 44%.

Rodolfo Brandão, Serasa's Executive Insurance Manager, suggests that after a period of rapid new consumer entry, motorcyclists are increasingly incorporating insurance into their routine vehicle maintenance. The study also highlights demographic differences: automobile insurance is primarily sought by married men, whereas motorcycle insurance is predominantly sought by single men.